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Updated almost 7 years ago,
FHA Loan on student rental in Southern California
Hi I'm looking at doing an FHA Loan on a property in Pomona, CA. I would House hack and rent to college students. I'm looking at offering 395k and I could rent out the rooms for 3000. REDFIN says my Loan with 3.5% down, would be around $2650 with PMI...correct me if I'm wrong. I'm meeting with a lender this weekend to get pre approved and put in an offer. But I'm wondering if anyone else would do this deal.